The FED's cut rates by .25bps, Wednesday. What does this mean for mortgage rates? Probably not much. In fact, rates are already at a low and are not likely to respond quickly or at all.
Mortgage rates don't often respond to the FED rate cuts, in fact, in 2018 the Feds increased rates 4 times in 2018. The mortgage rates fell at the end of December.
Bookmark this page for mortgage rates:
• 30-year (FRM) rates at 3.77% (-0.08%)
• 15-year (FRM) rates at 3.50% (-0.06%)
• FHA 30-year Fixed rates at 3.38% (-0.12%)
• Jumbo 30-year Fixed rates at 3.88% (-0.04%)
• 5/1 ARM rates at 3.65% (-0.05%)
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